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is back, and the $13 billion bailout in cypress. they want to pay for it by taxing people's bank accounts. dagen: the president will announce his no , nominee for s secretary. another looks at a man's record over at the justice department. connell: the cyber threats, a new report according to an isp, nigeria as being the worst for spam. dagen: the corporate tax burden in the country. who pays the most? those stories and much more coming up in hour on "markets now." ♪ connell: markets are going back to positive. dagen: who has a greater connection than anyone in the building. connell: good morning, nicole. dagen: good morning, yes, my mother and father were born in cypress, but i want to look here at the averages, a lot stemming from what we heard in cypress, them giving a vote to tax the depositors there, and that, in turn, could really pressure europe overall, that vote takes place tomorrow. the banks closed until thursday. the euro is at a four month low, and people are spooked. i mean, that's really what's occurring here, down 45 points for the dow jones industrials, so that's down
interesting things to tell republican senators this afternoon. he says he's for corporate tax reform and willing to push fellow democrats on entitlements. is the charm offensive starting to pay off? "the kudlow report" begins right now. first up tonight, a nice 83-point move higher for the dow, makes it ten straight days of gains. we have details of another day of record highs, good evening, ka kayla. >> reporter: jobless claims fell unexpectedly and gave traders more confidence in growth. the dow sitting above 14,500. up 83 points to 14,539. this month the dow has been up nearly every single day. the s & p within four points. all time record closing here. 1,563. on rising rates on treasuries. the highest yield in a year. low by historical standard. 3.248%. and the year on 390-year, up 10% this month alone. lots moving on the mobile front, larry. google will shut down its e-reader and samsung unveiled galaxy 4. blackberry moved on moves of the z-10. closed down just 4%. jcpenney under the microscope. the credit default swaps, those widened dramatically. fears of liquidity crunch hurt
with mandatory spending or comprehensive tax reform. that is what it will take. neil: do you think that bernie marcus, the home depot cofounder, was telling me on fox news, the spenders are using a pr war, the strong stock market, improving economic numbers as jusjustification for more spend. >> i don't buy that, i don't think that the stock market is as pro efficient -- prefish ent as people think, we don't need to been the budget, the way that the government calculates a balanced budget is a bad joke, we do have to do, we have to start treating the disease, deal with health care costs, deal social insurance programs. neil: they are not. they might -- but remind me,er day they don't, a new pore added to our -- a few more added to our debt. all unfunded. >> that is right, that is what we need. >> you local starkest terms. >> the full view, if we look at big number, over 70 trillion, if we end up doing -- >> how does that work? >> debt held by public, held by social security medicare trustee fund, and pensions unfunded, arrange of commitment contingency, and unfunded social security and medicar
to identity theft, especially during tax season. >> announcer: every year, millions of americans learn all it may take to devastate your life is a little personal information in the wrong hands. your identity needs protection, and no one does it better than lifelock. >> identity thieves steal from everyone. you have to protect yourself. i protect myself with lifelock. >> announcer: lifelock offers the most comprehenve identity theft protection, period. and lifelock ultimate was named "best in detection". lifelock's 24/7 proactive protection alerts you as soon as they detect an attack within their network, before it's too late. lifelock protects your social security number, money, credit, even the equity in your home. while identity theft can't be completely stopped, no one protects you better than lifelock. and lifelock snds behind that with the power of their $1 million service guarantee. you have so much to protect and nothing to lose when you call lifelock right now and try 60 days of identity theft protection risk-free. 60 days risk-free! use promo code: taxrefund. order now and get th
. future number two is, you don't change the spending which means you have to raise taxes to avoid a big debt crisis. then you have to raise the top marginal tax rate to 92% in order to close the gap. there is no way you're going to get a business to invest with a 92% tax rate. high taxes are disaster. i mean look, melissa, open a business in a world with high taxes or disaster, which would you pick? that's where we are. melissa: i hear you. what were the some of the things you heard from other people on the panel that were persuasive? when you looked out in the audience, were people listening? were they writing things down or empty chamber no one is really paying attention? >> well, here's the good news. the panel consisted of republicans, democrats, academics and former senator judd gregg and there isn't one person on the panel who did not say we have a problem and that problem is urgent. it should be dealt with now. we might disagree to the degree spending is the top issue and taxes can deal with it but no one is there saying hey, do nothing. that's what makes me most nervous about th
under control. potentially. but listen to this. the democratic budget calls for $1 trillion in tax increases over the next 10 years. how are you going to grow an economy with that? and every working american is going to pay some of those taxes. let me ask you, let me ask you this. are you already not paying taxes through the roof? i am. property tax, sales tax, gas tax, state tax, city of new york tax, federal income tax, and almost everything i do in my leash time, rental cars, hotels, planes, all taxed as well. and the democrats want to add another trillion dollars in taxes? so we're quickly becoming sweden which has the highest tax rate in europe. u.s. corporate tax is already the highest in the world, already. and there is no doubt president obama wants to raise them even further. so, again, is this a sound economic policy? is this going to grow the economy in the u.s.a.? is it? finally, the president and the democratic party have failed to tell the american people exactly what programs they will cut in the future, if anymore. once again, there is no specific entitlement reform
in almost four years. and tax hikes are at the center of their plans once again. senate budget committee chair patty murray proposing a budget that calls for a trillion dollars in new taxes. according to the congressional budget office, it still won't balance the budget, even decades down the road. democrats argue that this budget cuts almost 2 trillion from deficits over ten years. and they asked rich to pay their fair share. wih the white house insisting to the press that the american people have given them a mandate to take this approach. >> we need to ask the wealthy to contribute to deficit reduction, and that is a position that the public widely supports. i will wait for the budget to be putorward in senator murray to do that. we expected to be balanced, to have the principal balance inherent in its proposals. it is not -- in that don't expect it will be -- an agreement on every item of the president's proposal, but it will be consistent with the president's balanced approach. lou: the latest poll however contradicts jay carney claims of wide public support. the president's job app
buffet, a fan of higher taxes on upper income, and government doing more and spending more when he had his druthers he hose to commit whatever money he has, before it goes to you and to you and the foundation and not to u.s. government. >> tells you we have 3 sectors, private sector that biggest. and it phenomenal, anything it could do in terms of the diseases of the rich, the needs of people who can pay it is fantastic, then you have some things like education, justice, where government comes, and helping poor country, philanthropy is only a few percent as big as other sector but they are more willing to take out more far outsidence and new delivery programs there is a commentary rule we're taking your scientists and our expertise, and talks about government programs about what we know and where we have a common view, i'm the biggest fan of philanthropy, because it is almost like the venture capital of societal spending, sometimes you take on things like trying to get teacher to have more feedback and raise average quality, those programs might or might not succeed, this is not the ty
to be a temporary hike of taxes on but made them perm innocent locking in place an 8.8% top rate that could have new york's most productive residents taking eyes, and it's could take a hike, but will. i was thinking of that, will burr, it's another 9% on the top rate, close to 40%, half writeoffs saying nothing of the other taxes. you're paying 50% in taxes right out the gate. what's the deal? >> well, it's disappointing in that the business community, and the temporary increase part of the overall -- neil: must have known it was not temporary. >> well, no, we believed it would be, and went along with it as part of the overall reform, and he did make some good reforms, but this one is quite different. as far as i can see, this is paired with the $350 check being dulled out to sort of upper middle class people, and then -- neil: robbing peter to pay paul. >> yeah. neil: you think you were snickered? >> a direct money transfer from people in one income bracket to people in another income bracket. neil: so here you were trying to be pragmatic of this, this guy might be a different type of democrat, unl
on public servants, wasted money spent in the financial crisis and the only thing is higher taxes. >> there is an oversight of spending tax dollars, we have known that for a while. with the story with school superintendent, national average 162,000 to be a school superintendent but some of these guys are running half a dozen schools, less than a million students, some of them are making 200,000 or more. it is amazing there is no transparency, little oversight for the public servants will scream about the private sector. look to your own backyard. charles: the same ideology that argues about corporate salaries uses that as an excuse to bump up their own salaries. digging a were using to bump up your salaries? connell: thank you, charles, appreciate it. dagen: i am taken mcdonnell. connell: i am connell mcshane. thank you for joining us and this is what is keeping washington up at night. preventing a budget deal from happening. dagen: a big day for bernanke and company. is it time for the central bank to pull back on the bond buying? connell: and the taiwan factory making the recall
of bankustomers are blowing their talk, with talk of a 10% tax on deposit the money, has a lot of angry customers storming the atm machines but the government has closed banks to avid a bank run, a keeping them close until they sort this out, but the tax is till coming. for cyprus it is about the cost of staying in the euro club, never mind how average i citizes there are getting club. but this is about taxing assets there. something with which we should all be very familiar here. no uncle sam has not hacked into our bank accounts -- yet, but he made a b-line for our other assets like next time we try to sell our home, and obamacare wants 3.8% of the profit for medicare tax. juss like it is tacking medical devices for what it deems exception atrogen -- generous healthy insurance policy. so what is such a big leap going from hitting you up for dollars off fur devices, and hitting you up for dollars off your deposits. none, i tell you cyprus is not isolated. i am telling you, cyprus is a test case, it is starting, it was not only liberal the world over watching. now big brother, everywhere salivati
don't know what the loop holes there. there's a notion that the oil companies don't pay any taxes. of course they pay bills -- billions and bills of tax. >> a number of republicans were grateful. well, at least they're not raising tax breaks. have they been so cowed and beaten down that they're grateful it's the only revenue enhancement are just closing loopholes, special breaks, allowances, deductions. >> still more money that guess out of the economy and doesn't have an impact. more importantly, though, it's still sold the same way. still taxing the rich corporations and rich americans who have unfair advantages. so it leaves the door open to another sort of tax the next go-around. i didn't think -- >> neil: i thought that was off the table. >> after you get $41 in tax hikes with one dollar in tax cuts. >> there is the argument that you have the ryan plan, the murray plan, maybe have two sides that could broach some differences but i see some chasm >> but it's a more hopeful tone on both parties. the democrats say now that, yes, we must have tax hikes, or tax something -- tax re
at as nation's governments weighs a new bank account tax. there would be a 3% tax for deposits under $100 thousand euros, and a 10% tax and 15% tax for amounts larger than 500,000 euros, country central bank declaring a holiday until thursday, when they vote on the plan, this is sparking investor fears at home, joining me now lance roberts, host of street talk live, and xena. partner and cfa, welcome all, great to have you here, lance, i'll start with you, i have to assume some wealthy individuals are having questions about safety of their money, have you gotten any calls, are you expecting any? >> i'm not expecting any but i would not be surprised to see people talk more about this in next few days it is very late tonight anyway it looks like they will preserve the under $100 thousand mark and go after larger deposits, but the question, here in u.s., could it happen here? probably not. but the question is, ha hasn't t already happen with standpoint feds suppressing interest rates, that is the rate less than inflation, negative interest rate it has already happened here. gerri: let's go t
taxes and pay cuts, instead what they did was they taxed bank deposits. they're calling it a tax. a lot of folks are calling it a seizure. here's what's significant. even small depositors below the insurance threshold are going to get hit. the original number for small depositors below 100,000 euros was 6.5%. they're working in parliament right now about shifting that and any other subsequent plan suggests that if you have insured money it will still get hit. what did we see over the week whend this announcement happened on yesterday? runs on the atms at the banks in cypress because they'd shut down the banks as a result of this. they stopped all wire transfers and you also if you tried to take money out they had partitioned out the amount of money that you were supposed to be giveing to the government each though there hasn't been a vote in parliament. why did cypress need a bailout? its banks are bust. the reason the banks in sicypru they bet the greek debt would not be restructured but it was. that's left a lot of them insolvent. the banks in cyprus are huge, eight times the size of
significantly. has he lost leverage with republicans? what does that mean for whether your taxes are going up? >>> and stephen colbert talks about his stistister running fo office and is talking about being white racist of itself. a war of words over race in america tonight. it's monday. a brand new start. your chance to rise and shine. with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is more reliable - secure - agile. and with responsive, dedicated support, we help you shine every day of the week. >> announcer: did you know there are secret black market websites around the world that sell stolen identities? >> 30-year-old american man, excellent credit rating. >> announcer: lifelock monitors thousands of these sites 24 hours a day. and if we discover any of our members' data for sale, lifelock is there with the most comprehensive identity theft protection available. [♪...] [squealing, crash] call 1-800-lifelock or go to lifelock.com today. you will
a budget in balance through largely spending cuts and largely no tax hikes, in other corner democratic senator patty murray. a case of us likely losing, because the cuts really are not there we have rick yo joining m -- a little boxing reference, you have to know that. all right, so, what do you think elizabeth? leaving aside in controversial things that paul ryan wants to do. in the en, just trimming the increase, that is it? >> yeah, i think one of the big thing here's that people lose sight of is balancing the budget, patty murray supposed budget does not even balance, it is supposed to raise a trillion in revenue, that tells you, this is more of a shopping spree than a budget, people need to remember that a budget hopefully means you are only spending as much as you take in, not more. neil: scott martin, the markets seem to sense, maybe that despite all of the just erring -- gesturing we're at least, cutting the growth and stuff, we're not really cutting but that is better than doing nothing? or am i misreading the market? >> you are reading it correctly, that is a reason we had su
and taxes, g.o.p. budget includes repeal of obamacare, which i'm sure the democrats are not going to like. ryan reforms the tax code by bringing it down to two tax brackets. the white house releasing its own budget plan in april, we are back to square one. weave that to ta about. welcome all, great to have you here. here are the numbers that popped out to me in ryan's budget. saving 5 trillion over 10 years, but when you drill down into what is really going on here, government spending, federal government spending is going to increase 3.4% each and every year. it will increase anyway 5%. currently that is the plan. in washington we called tha a cut. if we are supposed to rise by 5%. i am teasing you. the spending goes up every year on this budget, but i think this is a pretty heroic effort on the whole. as you mentioned he does the tax reform, goes after the big boulders of the budget, medicare and medicaid. he h, i like the fact he has gone through the abolitn of obamacare. setting up a huge fight because they willry to pass this out of the house meanwhile a trillion dollars x increase i
about cyprus and what they'r they are doing, thet off this decision to tax or confiscate the bank accounts, but what happens now? how will they please those at the imf and the european union? big questions remain and that is why you see the red arrows. but just squeezing out a gain for now. lauren: investors also applied to the safety of u.s. treasuries today rallied for a third day pushing the yield on the 10-year note to a two-week low. david: without the fed announced what they are going to announce on wednesday. oil closing below $93 per barrel, this is the first fall for crude in four sessions, dropping 1.7% settling at $92.16 per barrel. lauren: and you have to look at the retailer's underperforming the market today especially the key names. american eagle, abercrombie and fitch, all falling greater than 3%. david: the stocks are much the same. rejecting the confiscation of bank accounts but there are things going on here in america that are not as friendly. the chief research officer joining us with a disturbing new report, one that shows the united states is falling behind
? if you are tired of washington's high taxes and big spending here is one way to stick it to the man >> tom: okay, you go first. i'll be right behind you. i have seen a lot of tax protestors and they do put them in prison when they don't pay their taxes. yes, people go to jail. i'll let you fight the battle first. thanks to everybody that contacted the show. keep your comments coming in. tom sullivan show, we're open for business 24/7. check out our facebook page, and then tom sullivan show. there is a lot of tom sullivan show, you can follow me on twitter at sullivan radio and all the things to contact us on the web my main webpage which is tomsullivan.com. thanks for joining us. make sure to tune in to the radio show. listen in through our fox news radio app. download it from itunes. you can hear us online by clicking live button on my main website. we or radio every day from 3:00 to 6:00 p.m. eastern time. we'll have another great show for you to fox business, but in the meantime, i hope to hear you on the radio. lou: good evening, everybody. thank you for joining us. the dow jone
is the disposable income after that payroll tax disappeared? continue negotiating. 82% is a proof of the way congress does its job. joining us now from washington, d.c. is steve moore. senior economics writer at the "wall street journal." will compromise and improve their standing in the eyes of the american people? i highly dow it. >> let me bring you up to date. there is still black smoke coming out of the capital. we still have not seen a senate budget. by 4:00 o'clock or 5:00 o'clock tonight, maybe. hold onto your hats, we make it a set budget. that would be quite a rare occurrence on capitol hill. people are extremely angry about the budget situation. they are extremely angry apple parties because of the accumulation of debt. they do not seem to be doing anything to stop this tsunami of red ink. washington is incomplete disarray. what do we do in november? we reelected 96% of these people. the numbers do not add up. dagen: i completely agree. if you look at the proposals from paul ryan and the senate democrats, where do you think there is room for compromise? >> i have looked through bo
. the cypriot government says the country's parliament is unlikely to pass legislation which would impose a tax on bank deposits. lawmakers are set to meet and vote on the levy which has been set on a condition of the eu bailout. meanwhi meanwhile, the german finance minister has rushed to the defense of a highly unpopular tax. the move was necessary to keep cyprus from sharing in the burden of a eu bailout. and uncertainty over the outcome of the vote in nicosia continues to weigh on markets. cyprus said its stock exchange will trading until thursday. cypriot banks have been placed on negative watch. carolin roth is reporting now for us. the latest we're hearing is that the vote may not happen today. what can you tell us? >> absolutely. there are a lot of moving parts still, kelly. this is a very fluid situation. the vote is scheduled to happen at 6:00 p.m. local time. there has been no official cancellation on part of the government. but, again, a government spokesperson at the same time also saying that it's very unlikely at this point that the vote will actually go through. that is, of cour
's so many obligations so many new taxes associated with it. it's incredibly expense simple. it was supposed to lower the cost. it has raised the cost of the premiums for average family, and in the neighborhood of $5,000. this is a disaster. and the real question is, will anybody have the honesty to own up to the fact this is a disaster and saying can we start over again and do this in a reasonable way and get the voices of people who actually know something about how to save money involved? everybody agrees that healthcare reform is necessary. but it needs to be done the right way. neil neil do you think it's too late for that? that this sort of medical ship has sailed and despite all the problems, i don't see the administration trying to draw it back. paul ryan wants to rescind the whole healthcare program and start fresh, but that's unlikely. so given that distinct possibility, what are we left with? >> well, i'm not as pessimistic as you are. i think there is just a slight chance that maybe some people who have pushed this thing forward, can stop for a moment and instead
are tired of washington's high taxes and big spending here is one way to stick it to the man >> tom: okay, you go first. i'll be right behind you. i have seen a lot of tax protestors and they do put them in prison when they don't pay their taxes. yes, people go to jail. i'll let you fight the battle first. thanks to everybody that contacted the show. keep your comments coming in. tom sullivan show, we're open for business 24/7. check out our facebook page, and then tom sullivan show. there is a lot of tom sullivan show, you can follow me on twitter at slivan radio and all the things to contact us on the web my main webpage which is tomsullivan.com. thanks for joining us. make sure to tune in to the radio show. listen in through our fox news radio app. download it from itunes. you can hear us online by clicking live button on my main website. we or radio every day from 3:00 to 6:00 p.m. eastern time. we'll have another great show weekends. "the willis" report is coming up next. gerri: hello, i'm gerri willis live from the at atlantic city. tonight, new obamacare fees catching employers by
as republicans. smaller government, lower taxes, less spending, rational regulation, open markets, free trade. these are the things that unite as as republicans. it is no surprise to me, lou, that if you take this 60 million people who voted republican for president last year, they're not going to all agree on everything in it would be silly to think that they would. but, there are things that generally unite us, and we need to learn how to work together and push hard for what we know is right. secondly, to understand and not everybody who is a good person or even a good republican is goin to agree with you on everything. heck, my wife doesn't agree with me and everything. lou: you put it that way. in my house i have to say, have to agree with her. republicans have lost to president ections, as you are keenly aware, governor. the vote totals declining over those two elections last year. the spending, astronomical. the republicans -- fighting many people are not aware, republicans actually out raised anoutspend the democratic party. presidt obama. over $1 billion. now, that is, by mimas, gover
because of that deposit tax component. now, the president is currently meeting with the leaders of the political parties. of course, what he's trying to do is to strong arm and to persuade them into voting for that deal because the other alternative, yes, that is bankruptcy for this country, which has only 1 million people and only makes up 0.2% of the entire eurozone. the debate and the vote on that bailout deal will be kicking off in around four hours from now at 4:00 p.m. local time. thou, a lot of uncertainty as to what the outcome of the vote will be, given that nobody has a clear majority. having said that, there is, of course, the chance that some of the lawmakers who have been wavering could have been appeased by the talk that some of the taxes for the smallest depositors could be lowered. now, "the wall street journal" has reported that those deposits between zero is and 100,000 euros could be taxed at only 3% as opposed to 6.75% previously. now, the middle bracket would be 100,000 to 500,000 euros. that could be taxed at 10% and then anything in excess of half a millio
've never paid taxes in my life, no one wants to hear that kind of talk. warner: the irs just heard you and you will be hearing from them, man. . >> idiot. warner: very good, nick. connell: good one, nick. imus: never paid taxes in my life. okay. well, what else, warner, anything? >> well, my time is up, thank you. imus: your time is up. wilson pickett would have been 72 years old today. of course, he's not. he did record this before he left us. ♪ mustang sally ♪ ♪ guess you better slow your mustang down ♪ ♪ what i said now ♪ ♪ mustang sally now baby ♪ ♪ oh, lord, guess you better slow your mustang down ♪ ♪ oh yeah, you been running all over town now ♪ ♪ oh, guess i have to put your feet on the ground ♪ ♪ what i said now ♪ ♪ imus in the morning ♪ >> legalized theft in a country you barely heard of and your money takes a hit. good morning, everyone, cyprus is the country. the seizure of private bank deposits is the issue. europe says, if you want more bailout, you cyprus people, then everyone with money in cyprus must pay a tax on all bank deposits ha
-called vice taxes. you have probably heard the sequester cuts go after about $44 billion in this fiscal year. let me give you a sense of this. taxes on tobacco and alcohol and gaming, gambling, lotteries, generated together $75 billion compared tough sequester, that taxes are doing a very powerful job. that is, federal, state and and local revenue. two states, two states have legalized the recreational use of marijuana. they are colorado and washington . colorado collect more than $5 million in sales, $5 million in sales from dispensaries, pot dispensaries, marijuana. washington is reptedly collecting some $750,000 in taxes, although they have been having trouble getting dispsaries registered with the state. it is affecting their revenue. pot smokers procrastinating. hard to imagine. well, regarding that $13 billion pornography industry, 13 billion. california is earning about $36 million per year just in revenue from the porn industry. it's worth about a billion dollars overall to the economy, just in southern california. well we are on the subject of sex in addition to the so-called vice t
melissa: welcome. i'm melissa francis. lori: i'm lori i i rothman. voting to delay a tax on the bailout, and now there's reports the finance minister is stepping down. we have reaction with the trading president, the former cypress trade representative to the u.s.. he'll be joining us. >> treasury secretary jack lew meeting with the chinese president on the agenda of growing concerns about china ease role in cyber attacks. melissa: targeting seg represents in new york a week after a judge rejected the ban on large drinks. we get the verdict with the judge andrew going after soda, ear buds, cigarettes, what's next? seriously. lori: only can guess. it is back down to the floor, new hour here on "markets now," and i know cypress is driving action again today. >> it is. we are seeing headlines that the president will be talking with angela merkel, obviously, another development pertaining to what we see in cypress, which then, obviously, really rules the e.u. markets and our markets here at home. yesterday, for example, we lost a lot of money in the global market with all the
industry takes a hit with higher taxes and more americans quitting is investing too much to risk? we have robert gray off. >> good afternoon. fewer americans are smoking all the 19 percent are smokers and the price of cigarettes have more than doubled. see may not expect to see that over the past decade decade, the big tobacco producers philip morris -- will morris here in the u.s. and others outdistance the s&p 500 when they reinvest the dividends and one statistic to jump out come over the past five decades is a paltry a group take a look returning almost 20% per year. 840,255% thank you to s&p four crunching the data. there are a lot of risks involved their steady dividend payers but bell have fairly large debt loads we know about litigation risk and regulation and we will talk about that the next hour with a face is in california. back to you. melissa: what is business without wings? we have the efforts of expanding the hooters brand spirits this is what a down day looks like. back at the new york stock exchange down 40 points. lori: carnival faces another problem with one of the ship
. the european nation wants to tax all bank deposits up to 10% in order to secure a $13 billion bailout for the government. this move is unprecedented, it would basically allow the government to skim the bank accounts of every single person who makes a deposit into a cyprus bank account. if that is not enough, the country has closed all banks until thursday so if the decision is made there will not be anything anybody can do if they have money in the bank. now the world is bracing and waiting. what you should do with your money and with the impact could be. so excited to have you on tonight. university of chicago professor. what a team. let me start with you because i want you to set the scene for us because some people hear this and i think of cyprus is a tiny island, who cares. this could set off a chain reaction around the world, tell me why. >> if you have your bank deposits in another country that is shaky, italy, spain, portugal, and greece, you will say in my the next in line? so what we will be looking for over the next week or at any time or attention turns to a potential crisi
, no one read it before it was passed, and there's quite literally a trillion dollars worth of taxes in the affordable care act. it's underappreciated, there's a tax increase on the economy to turn into big job growth impacts and turn into big cost of insurance impacts, and that's what the fee is for, it's there to get the startup of the new exchanges going and to ensure the high cost paicialghts are covered into the insurance products. gerri: what's interesting because there's a lot of people asking for exclusions already, and am i surprised that thedownon representing auto workers doesn't want to pay this. boeing, as i mentioned before, they are asking for exclusions. suspect this is case where virtually anybody with more than say a thousand employees is going to be knocking on the white house doors asking for personal consideration? >> we, of course, you would. this is a cost of doing business, going to be substantial, and unanticipated cost. we saw this with all the regulations that have been put in place to make obamacare go. one by one, they show up and ask for exclusions becau
the president is not winning the battle handsdown. today we get the democrats trillion dollar tax hike plan and wait for it, stocks will be up again. okay retail sales, yes, stocks up again. here we go. "varney & company" is about to begin. how do traders using technical analysis streamline their process? at fidelity, we do it by merging two tools into one. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. weike this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 200 free trades whenou open an account. neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making
could maul your paycheck. why democrats could jump at more tax hikes. tech kyes awaiting the next big product from samsung, the hype over the new galaxy s4 that's proof apple needs to watch its s. ♪ dad, i'd put that down. ah. 4g, huh? verizon 4g lte. 700 megahertz spectrum, end-to-end, pu lte bui. the most consistt speeds indoors or out. and, obviously, astonishing throughput. obviously... you know how fast our home wifi is? yeah. this is basically just asast. oh. and verizon's got more fast lte coverage than all other networks combined. it's better. yes. oh, why didn't you just say that? huh-- what is he doing? neil: a new pope, a new record high. curious? the dow hit an all time high, 7th straight day, longest streak in 26 years. markets up, retail sales up, all of this despite taxes going up, and, today, democratic senator, patty murray announced a budget to ramp tax revenue even more up. would more tax hikes see all the good numbers crash down? let's ask. what do you think? >> well, yes, as will spending cuts. i hope the u.k. austerity britain since 2010, tried to reduce the de
maul your paycheck. why democrats could jump at more tax hikes. tech kyes awaiting the next big product from samsung, the hype over the new galaxy s4 that's proof apple needs to watch its proof apple needs to watch its s. the capital one cash rewards card gives you 1% cash back on all purchases plus a 50% annual bonus. and everyone wants... ♪ 50% more doo wop ♪ 50% more buckarooooooooos ♪ 50% more yeeeaaahhhh!!!! ♪ 5 more yeah yeah [ male announcer ] the capital one cash rewards card gives you 1% cash back on every purchase, plus a 50% annual bonus on the cash you earn. it's the card for people who like more cash. ♪ 50% more boog ♪ what's in your wallet? cashhhhh!!! ♪ what's in your wallet? at od, whatever business you're in, that's the business we're in. with premium service like one of the best on-time delivery we do whatever it takes to make your business our business. od. helping the world keep promises. il: a new pope, a new record high. curious? the dow hit an all time high, 7th straight day, longest streak in 26 years. markets up, retail sales up, all of this despit
's good to refresh our memories on costly wars, big tax cuts, medicare part d. that was a six-hour vote and there were republicans chasing people around the walls of the house of representatives trying to get that last vote and of course, the crisis on wall street. by the way, as you know, they've regained all the money they lost on the principles of president obama. i know he has a heart of caring. we've got to restate this principle and you are right. it's our commitment. we're not letting go of medicare, medicaid and social security. medicaid is a premise of the affordable care act. >> even if it puts you at odds with the president? >> i'm an optimist and i truly believe the president has a real good heart and he's still willing to listen. we're against the changed cpi. but we're keeping the doors open. we want to hear what the president has to say and i always believe that he has an open mind and an open heart. but it's up to many of us. to keep the fight going. >> we are going to find out. no question about it. thanks for your time tonight. i appreciate it. >> thanks. >> and that i
, in the ryan budget takes the taxes and repealing obamacare. what is happening is the complete integrity of our financial system is being called into question. we have the fed printing day and night to provide the monetary support for these fiscal policies, and to hear republicans say, the speaker of the house say, this is not an immediate debt crisis. what the hell does one look like? >> neil: makes you examine, were they trying to say -- calm people down into thinking we're not going to followed like this hour or this day. but by saying not immediate, and agreeing with the president, they give him a negotiating edge. the president says this isn't really like a right-now threat. up to now they've been saying this is a right-now threat. >> i don't think boehner believes it is. i think he has been around a long time. the think he has participated in this for a long time. i don't think he would use this as a crisis, and it is a crisis. paul ryan was on my program over a year ago, and he said we have two years. well, that's over a year ago, so i guess we have about ten months, and i'm surprised at
: that companies from lost tax revenue because the economy is smaller? is that where you're getting the number from. >> yes. a mere 1% growth loss over time is huge impact on the economy and our ability to pay our bills. melissa: now you say this testimony is empirical. that is right in front of us and quantitative and not sub executive and people have to pay attention to that. that is not the case when you present it to the democrats and the president. they say cutting back on spending now would damage growth and the economy and cost us jobs in the short term. how do you respond to that? >> well, basically what the witnesses today said, for the most part, is that congress and the white house is making progress on discretionary spending, more can be done. but they really felt, the focus needs to be on how we make social security, medicare, medicaid, solvent over the long time. there was one other area of treatment. asked, given the obamacare taxes that have kicked in, the new taxes from the fiscal cliff, absent fundamental tax reform, would raising taxes again be helpful to our economy? no one agre
, it results in unfair tax hikes on middle class americans and results in undue burden on middle class americans through the cuts envisioned. >> this republican budget once again makes an ideological, uncompromising approach to addressing that budget challenge. >> perhaps the best thing i can tell you about the republican budget is that here we go again. >> yesterday americans got their first look at this year's ryan republican budget. turns out it it looks like last year's ryan republican budget and it wasn't the only one. i wasn't the only one that said, gee-whiz, not again. >> sean: their fearless lead her -- their fearless leader demagogued so he they demagogued. why are you laughing? >> i'm laughing because these are what i'll call the jim jones democrats. these people are unbelievable with what they're talking about. let me throw a few facts on the table. the government accountability office that works for harry reid and obama, they say 125 billion dollars in estimated improper payments in the federal government? i've got another one of their reports, 510 billion dollars of dupli
crunched the numbers and under the democrats' plan they would race taxes by $1.5 trillion. they just raised taxes. why would anyone think this budget is a good idea. maybe somebody who does is the former chair of the president's council on american advisors. from the university offing should school of business. uses one of those washington calculators. how are you doing? >> great to see you. i thought you would describe the thank you note you were about to write to the president for cutting government at a faster rate since world war ii. >> 6 trillion in debt. you're using to giving your students quizes and tests, right? >> here we go. >> this is the hannity intellectual contest, and we'll see our good of a political spin artist you are. close friends with barack obama -- >> i'm shocked he wasn't elected pope. here's point number one. this week wore talking about the president talking about balancing the budget, and we'll listen to candidate obama. >> i know where this is going. >> what is important to recognize is that we've already cut $2.7 trillion out of the deficit. if the sequester st
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